Oculis Holding AG

OCS

Biotechnology · Healthcare

Price

$13.09

-0.06 (-0.42%)

Market Cap

$748.1M

Exchange

NASDAQ

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+60.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 32.7M (2021) → 52.4M (2025)

Winston Score History

The full picture

Oculis Holding AG is a Swiss biotechnology company focused on developing medicines for eye diseases. Its pipeline targets conditions like dry eye disease, diabetic macular edema, and other serious retinal disorders. The company is in the clinical stage, meaning it does not yet sell approved products to patients.

Oculis earns almost no revenue today and funds its operations through capital raises and partnerships rather than product sales. It is headquartered in Switzerland and operates primarily in Europe and the United States, running clinical trials across multiple sites. The deeply negative margins reflect the typical cost structure of a pre-commercial biotech — spending heavily on research and trials with little offsetting income. The key growth driver is advancing its lead drug candidates through late-stage clinical trials and winning regulatory approval, but the main risk is that trials can fail, and the company may need to raise additional cash to stay funded.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

Revenue declining

EPS Growth

+67.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

CHF 55M/ year

→ Flat (+5% vs prior year)

Steady R&D investment year-over-year

Insider Activity

35.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~0 months

CHF 8,000 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Oculis Holding AG has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-39.7%

Weak — -39.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-6.9%

Shrinking sales (-6.9% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-27181.9%

Burning cash (-27181.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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